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In April of 2007, the U.S. Trust Survey
of Affluent Americans was prepared for the
United States Trust Company which is a wholly
owned subsidiary of the Charles Schwab Corporation.
Gregg and Lisa Whitney think it is important
for their clients to follow the attitudes
and trends of wealthy Americans on a wide
variety of topics as most of their clients
hold real estate as a part of their investment
portfolio.
 This
article is Part 7 of an interesting nine
part series on the super high net worth
American. Gregg and Lisa Whitney are pleased
to provide this information for you
Their partnership, also known as Whitney
and Associates, has a proven, long-term
track record of successful real estate sales
in the La Jolla, California Real Estate
Market. Gregg and Lisa Whitney believe Clients
should be key finding from this survey as
part of the exceptional service they provide
to their clients.
Those surveyed in this study released
recently constitute Americans with an investable
net work greater than $5 million, not including
primary residence. Included in this study
is a special sub-sample of ultra high net
worth Americans with total assets of $25
million or more. Gregg and Lisa Whitney
want you to know that an income qualification
was not used in the current version of the
study and the overall qualification was
based solely on investable assets leading
to an overall wealthier sample. An independent
marketing research firm was retained to
conduct this survey and focuses itself on
the top wealthiest Americans and their beliefs,
concerns and attitudes.
One of the top priorities for high net
worth individuals is teaching their children
entrepreneurial values. While almost all,
or 96%, agree it is important to teach children
how to manage wealth; high net worth individuals
are almost equally concerned with other
values and skills that are closely linked
with wealth. Specifically, almost 87% agree
about encouraging entrepreneurial skills
in their children. But just what kind of
entrepreneurial skills is not specified.
High net worth individuals did agree on
the importance of teaching children about
philanthropy and giving, at 82%, and with
similar numbers believe that wealth also
brings with it social responsibilities,
at 80%.
In the survey of attitudes toward children
and personal wealth, the following were
found to agree with each statement:
• Importance to teach children
to manage wealth (95%);
• Encourage entrepreneurial values
in children (87%);
• Impress on children importance
of philanthropy (82%);
• Teach children wealth is a social
responsibility (80%);
• Concerned about negative impact
of wealth on children (53%);
• Owe it to children to leave a
sizeable trust (43%).
Concerns with the social aspects of wealth
are also reflected in that less than half
of high net worth parents say they owe it
to their children to leave a sizeable trust.
This reflects parental values that the value
of wealth goes beyond simply providing and
advantages and affluent lifestyle.
At Whitney and Associates, we understand
the specialized needs of the wealthiest
Buyers and are the right choice for the
buying or selling of a home in La, Jolla,
California.
Have any questions or like to learn more?
Use our handy form on the side of the page
to contact Gregg and Lisa Whitney. You will
see that we only require your email address.
Gregg and Lisa Whitney understand that your
privacy is important to you and we respect
that. We do not share your information with
anyone without your permission.
Gregg and Lisa Whitney realize that you
are probably in the information gathering
stage of your process, and we want to provide
assistance to you in any of your La Jolla,
California Real Estate needs. If you would
like to talk to Gregg or Lisa Whitney in
person, feel free to call Whitney and Associates
at our main line at 858-456-3282.
When you are ready to invest in the real
estate market let us help you. After all,
we are the experts in La Jolla, California
Real Estate.
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